Teslas tokenize to democratize and decentralize Web3 ride sharing.

A car-sharing company in Vienna has implemented blockchain technology to create self-sovereign IDs for over 100 of its Teslas. The integration allows users to own a portion of the fleet and receive a share of the revenue generated from daily rideshare operations. The transaction and data storage layer for the decentralized physical infrastructure network is hosted by the Peaq blockchain network, built on Polkadot. The company chose Polkadot due to its interoperability aspect, and has built an economic model to incentivize IoT use cases. The founders highlighted the potential for blockchain technology to democratize the age of automation, with AI-capable Tesla vehicles potentially becoming robo-taxis. The EU initiative Gaia-X, which aims to establish “real smart cities,” was also mentioned in connection to the development of sovereign data infrastructure and standards for identity and data sharing.

“All the value that those autonomous cars generate could end up in the pockets of a few big companies,” he said.

“This is a way to reduce inequality by making all of those autonomous value-generating assets open for people to invest and earn from.”

According to Dorloechter, as more valuable physical items are added to the blockchain and converted into tokens for public access, the possibility for “communities to fund and build infrastructure, and also earn from it” becomes a reality.

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